My wife and I are buying a newly built flat in Oakley and my conveyancer is informing me that she is duty bound to the bank to reveal incentives from the seller. I am on a tight deadline to exchange contracts and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do banks and building societies provide you with an approved list of Oakley conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?
Oakley conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
My lender has suggested solicitors on their panel based in Oakley but I would rather choose a conveyancing lawyer in Oakley local to me. Are you able to help?
Far from all Oakley conveyancing practices are on all lender’s conveyancing panel. Use our find an approved solicitor tool to identify a Oakley conveyancing firm on the on the lender panel.
Have just purchased a repossessed house at auction in Oakley. Conveyancing is required. What happens now?
Now that you are to all intents and purposes signed on the dotted line you will need to find a conveyancing lawyer soon as you now have a pending a fixed date to complete the purchase. Every auction property will ordinarily have an associated legal set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the legal pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should pass this on to your appointed conveyancing solicitor ASAP. Do make sure that you have funds organised to complete the transaction on the set completion date.
We are buying a detached bungalow in Oakley. Our aim is to an extension at the rear at the property.Will the conveyancing process involve investigations to determine if these works were previously refused?
Your solicitor will review the deeds as conveyancing in Oakley can sometimes reveal restrictions in the title deeds which restrict certain changes or require the permission of a 3rd party. Many works need local authority planning permissions and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I am selling my flat. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being difficult. The Oakley solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am buying a new build flat in Oakley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Oakley
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I only have Fifty years remaining on my lease in Oakley. I now want to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the lessor. On the whole a specialist may be helpful to carry out a search and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Oakley.
Oakley Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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How much is the maintenance charge and ground rent on the flat? Is there a share of the freehold? Who are the managing agents?